Canadian car loan ads are not legitimate
- Published on September 12, 2024 at 19:46
- 3 min read
- By AFP Canada
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"The Canadian police have been hiding this from you," says a voiceover in an August 30, 2024 Facebook video with more than 225,000 views.
The clip claims dealerships have an overstock of overseas vehicles, forcing them to sell cars for "pennies on the dollar."
The caption also alleges people in the province of Alberta can use an unidentified service's "extensive network" to assist with securing pre-approval for a car loan, regardless of one's credit situation.
An account for a supposed gamer named Julie Alton posted the video. The page transparency details say it is managed from the United States and runs paid ads on Facebook.
Meta's Ad Library shows the account is running more than 80 promotions for car loan programs. Some tout claims of Canada-wide programs, while others appear to target residents in specific provinces.
Many ads share clips of police officers alongside allegations that authorities are hiding secret loans. But the videos appear to be lifted from social media footage unrelated to Canadian car loans.
A reverse image search indicates one shows two New South Wales officers speaking about a Taylor Swift concert in Australia (archived here).
Other clips in the ads are pulled from the social media posts of people who purchased new cars (archived here). They do not mention a special loan program for Canadians.
The ads link to Autokarma.ca, while some videos show people on Ridetoday.ca. Both domains direct to a form asking for personal information.
Neither Auto Karma nor Ride Today appears on Canada's Business Registries website (archived here and here).
AFP contacted the sites for comment, but delivery of the emails failed. Both pages include the same mailing address, which Google Maps lists as the location of a smoke shop and convenience store in Vancouver (archived here).
AFP called the store September 12. An employee said it does not provide car loans.
The Financial Consumer Agency of Canada advises buyers to secure car financing from a dealership or a bank.
AFP has previously fact-checked other illegitimate offers targeting Canadians on Facebook.
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